Indian Credit Rating Agency

ICRA signs MoU with Andhra Bank

Indian Credit Rating Agency (ICRA) Ltd has made announcement that the company has inked a Memorandum of Understanding (MoU) with Andhra Bank.

Under the proposed MoU, ICRA will give Bank Loan ratings to the Bank's loans under the standardized move of RBI's New Capital Adequacy Framework for Basel-II.

According to the sources, ICRA's ratings for the standardized approach would be executed under its "Line of Credit" rating service and would allow Andhra Bank to give the new risk weights applicable to its borrowers.